Please guide me if person want to open a business i.e open a shop for Electrical items and his investment amount is Rs. 2,50,000/- . whether his is applicable for GST Registration or did not required.
30 August 2021
GST registration is required only when the turnover exceeds the limit as prescribed. Rs.40 lacs in case of goods (exclusively) other than special category states.
30 August 2021
It is not depend on investment, it depend on sales. If you make sale in a financial year up to 40 lakh you do not need to take registration in GST. After crossing the threshold limit of 40 lakh you need to take registration under GST.
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